Canopius partners on US admitted business

Canopius Group Ltd. said Monday it has agreed to write U.S. admitted business on paper provided by Samsung Fire and Marine Insurance Co. Ltd., its shareholder and business partner.

Under the agreement, Canopius Underwriting Agency Inc.’s ocean marine and management and professional lines teams will write admitted business using Samsung Fire and Marine’s paper.

Canopius is already able to write non-admitted business through its Chicago-based U.S. surplus lines insurer Canopius U.S. Insurance Inc. and its Lloyd’s syndicate 4444.

Finalizing its U.S. admitted partnership with Samsung Fire and Marine will fuel Canopius’ plans to expand its offerings in the specialty market in the U.S., the London-based specialty insurer said in a statement.

Samsung Fire and Marine made a significant minority investment in Canopius in 2019.

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